Good Energy bids to ‘spearhead’ energy transition with flurry of capability investments, top table hires

Clean energy supplier Good Energy has signalled its intention to lead from the front of the energy transition, outlining a series of investments in new tech capabilities and a trio of appointments to its executive team.

Later today chairman John Maltby and chief exec Juliet Davenport will host the company’s AGM in Chippenham, but has pre-empted it with a trading update to the market this morning.

That update offered insight into how the supplier has prepared itself for the emergence of a more decentralised power market, a change the company described as a “fundamental shift” that “flips the axis of power” towards homes and businesses.

Furthermore, Good said that cleaner power was now a key motivation for the general public. “There is an environmental and ethical awakening happening across society, with greater awareness of personal and corporate environmental footprints,” the company said.

Good considers itself “well-positioned” for the new energy paradigm and has laid claim to having “spearheaded decentralised energy since 2004”. Having jettisoned its early solar and onshore wind development business, the company’s remaining decentralised energy business consists mainly of its role as a feed-in tariff administrator, of which it has an 18% share of the market.

But having described 2017 as a “transitional year” – one which saw the supplier beset by a troublesome migration to a new customer billing system while juggling moves in the C&I battery sector sphere – Good Energy has its sights set firmly on growth in the year ahead.

Central to this are a series of investments in both the supplier’s technical capabilities and its top team. A new Good Energy mobile app is to launch in Q3 2018 and has been described as the “foundation” of Good’s new customer offering.

This, alongside the rollout of SMETS2 smart meters and the in-house development of new systems and methodologies, will allow the supplier to influence change within its existing customer base, Good said.

Perhaps most interestingly is the supplier’s teasing of an evolution to a subscription service-based model from the traditional model of charging customers per unit of energy. This, Good said, would shift reliance away from energy margins in the longer term and decrease their exposure to wholesale price volatility, which has been a thorn in the side of energy suppliers of late.

While it’s not the only supplier to have discussed such a switch – many in the energy industry have mentioned the need for the “kilowatt hour to die” – Good Energy is among the first to commit investment to the concept.

And Good has also moved to bolster its leadership team with a trio of new appointments designed specifically to deliver such a change and “match… the challenges” in today’s energy market.

David Ivell has joined as chief technology officer having previously led the tech transformation within The Prince’s Trust. He will be tasked with delivering the supplier’s new digital strategy, comprising investments in new technologies and products.

Joining Ivell are Sarah Morgan, who has taken up the role of customer services director, joining from rival Ovo Energy, and Paul Tavener, who joined as interim marketing director last month.

“The appointment of these three roles completes the senior leadership appointments and new strategic structure for the executive team at Good Energy,” the company said, while Maltby added that a strong start to the year had allowed the leadership team to continue to reshape the supplier for a changing energy market.

“Technology, changing customer behaviours and attitudes, and the people making up the Good Energy team mean we can continue to lead the shift from old energy to new generation,” he said.